Netflix and Amazon in the race for Formula One rights in America
The battle for Formula One rights in America is becoming fiercer than ever. F1’s popularity in the United States has risen exponentially, creating a special battle for broadcast rights.
Growth in America
Since 2017, Formula 1 in America has been broadcast by ESPN. The channel is reportedly paying around five million dollars a year for this, but that price will skyrocket starting in 2023. ESPN’s deal expires at the end of 2022, which again provides F1 with a new bargaining position. Indeed, the sport has grown significantly in popularity.
Since the deal with ESPN was renewed in 2019, F1 has been more popular than ever in America. The Netflix series Drive to Survive has helped this tremendously, as well as the new Miami Grand Prix. In 2023, there will even be a third Grand Prix in the United States. That’s when the Las Vegas Grand Prix will debut on the calendar.
ESPN, Netflix and Amazon
With all this new attention, F1 is now aiming for a price of $100 million. ESPN has made a new bid of $70 million (more than ten times as much as the current deal), but F1 is holding off for now. There are, according to Business Insider, in fact, there are more hijackers on the coast.
In addition to ESPN, Netflix also wants to get involved in the battle for broadcasting rights. The streaming service wants to move toward a new subscription model in 2023 and broadcast rights to F1 would fit right in with that. In addition to a series about the sport, it would then also get the footage of the races.
Besides Netflix, Amazon and NBCUniversal also want to compete for broadcasting rights. NBC had the broadcasting rights in America until 2017 but lost them to ESPN. For the UK this does not mean that in 2023 F1 can be seen with an account on Netflix or Amazon. For now, it’s only about the broadcast rights in America. GP Blog
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